Stock Traders Purchase High Volume of Call Options on World Wrestling Entertainment (NYSE:WWE)

World Wrestling Entertainment, Inc. (NYSE:WWE) was the target of unusually large options trading activity on Wednesday. Traders bought 11,523 call options on the stock. This is an increase of approximately 3,023% compared to the typical daily volume of 369 call options.

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of World Wrestling Entertainment in a research note on Friday, April 23rd. Cfra cut shares of World Wrestling Entertainment to a “sell” rating and set a $45.00 price objective for the company. in a report on Friday, April 9th. Morgan Stanley boosted their price objective on shares of World Wrestling Entertainment from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Finally, Zacks Investment Research raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating and set a $62.00 target price for the company in a report on Monday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.92.

In related news, EVP Paul Levesque sold 37,115 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $55.60, for a total transaction of $2,063,594.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 41.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Kaizen Financial Strategies purchased a new position in World Wrestling Entertainment during the 1st quarter valued at about $332,000. Strategic Wealth Partners Ltd. boosted its holdings in shares of World Wrestling Entertainment by 64.6% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 8,528 shares of the company’s stock valued at $463,000 after buying an additional 3,347 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of World Wrestling Entertainment by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 420,450 shares of the company’s stock valued at $22,814,000 after buying an additional 61,300 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of World Wrestling Entertainment by 23.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 246,416 shares of the company’s stock valued at $13,371,000 after buying an additional 46,716 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of World Wrestling Entertainment in the 1st quarter valued at about $4,937,000. 69.69% of the stock is currently owned by institutional investors.

Shares of WWE opened at $64.88 on Friday. World Wrestling Entertainment has a twelve month low of $35.44 and a twelve month high of $70.72. The stock has a market capitalization of $4.95 billion, a P/E ratio of 36.86 and a beta of 1.50. The company has a current ratio of 1.51, a quick ratio of 1.49 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $56.05.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, April 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.28. The company had revenue of $263.50 million for the quarter, compared to the consensus estimate of $259.60 million. World Wrestling Entertainment had a net margin of 15.78% and a return on equity of 40.49%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that World Wrestling Entertainment will post 1.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, June 14th. World Wrestling Entertainment’s dividend payout ratio is presently 28.57%.

World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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